CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
Three months ended June 30, Six months ended June 30,
1997 1998 1997 1998
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REVENUES
Product sales $ 74,883 $ 65,969 $ 105,936 $ 93,147
Product sales-related parties 47,039 6,814 64,455 44,141
License revenues - 500,000 - 1,500,000
License revenues-related party 214,893 - 438,258 -
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336,815 572,783 608,649 1,637,288
COST OF REVENUES 128,604 39,846 243,850 76,044
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GROSS MARGIN 208,211 532,937 364,799 1,561,244
OPERATING EXPENSES
Research and development 300,852 217,319 557,261 484,067
General and administrative 296,557 302,896 473,736 618,502
Sales and marketing 278,149 220,611 489,353 466,584
Equity in loss of Racom Japan 103,343 - 198,374 -
Amortization expense 39,411 39,411 78,547 78,822
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1,018,312 780,237 1,797,271 1,647,975
LOSS FROM OPERATIONS (810,101) (247,300) (1,432,472) (86,731)
OTHER INCOME (EXPENSE)
Interest expense (750) (482) (138,265) (1,195)
Interest expense-related parties - - (17,405) -
Interest income 47,177 16,807 49,802 34,529
Other 705 (82) (54,790) 898
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NET LOSS $(762,969) $ (231,057) $(1,593,130) $ (52,499)
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NET LOSS PER SHARE - BASIC
AND DILUTED $ (0.06) $ (0.02) $ (0.13) $ 0.00
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WEIGHTED AVERAGE SHARES OUTSTANDING 12,407,532 13,242,949 12,407,532 13,242,949
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